whether they will reduce the number of spending cuts that hit the pentagon and the dod that remains to be seen. what we do understand is in a few hours the republicans in both the house and senate will say let's give the pentagon some jurisdiction over these spending cuts rather than imposing automatic cuts that in some cases could do more damage than good. jon. jon: carl cameron on capitol hill in washington thank you. jenna: as the president looks for a short-term solution to the nation's spending problem the congressional budget office has come out with a new and quite frankly disturbing report about our financial situation, our soaring debt. right now our debt is at a record of more than $16 trillion. in just ten years the cbo says that number will grow to become 77% of what we produce, what our economy proceed dies. gdp. horry rolori rot man is with us. >> these projections are the latest evidence showing that our government continues to spend at this rate our economy is headed for trouble. if congress leaves current policy unchanged our national debt will rise from around 72% of